Job advertisments flatline

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Jobs advertised on the internet and in newspapers is on a slowing trend after the number remained the same in November compared to the previous month.

The flatlining figure tied in with a slowing annual rate of 0.2 per cent growth, the ANZ Job Advertisements Series said on Monday.

ANZ head of Australian economics and property research Ivan Colhoun said the figures suggested a possible growth in unemployment looking ahead.

“The negative trend in job advertisements points towards only modest employment gains for the Australian economy over coming months,” he said.

“Indeed, the current trend rate of employment growth is unlikely to be fast enough to absorb the forecast growth in the labour force over coming months.”

ANZ was forecasting that unemployment would rise to five per cent by mid-2012.

It would then decline as mining and infrastructure investment gained pace, Mr Colhoun said.

Jobs advertised in newspapers grew by 0.6 per cent in November, but were 15.9 per cent lower than a year ago, reflecting a growing trend for online advertisements.

Internet advertising was one per cent higher than the same time last year.

Mining states Western Australia, Queensland and the Northern Territory posted growth in job advertisements.

The number of advertisements increased by 10.1 per cent from the previous month in Queensland, 4.5 per cent in WA and 2.2 per cent in the Northern Territory.

In the other states, the figures remained sluggish with falls of 2.9 per cent in New South Wales, 1.7 per cent in Victoria, 4.6 per cent in South Australia and 0.7 per cent in the Australian Capital Territory.

Tasmania posted a modest gain of 2.5 per cent month-on-month.